Financial News
Polls project Macron, Le Pen to face off for French presidencyExternal Link

Polls cited by French television Sunday indicate centrist candidate Emmanuel Macron and far-right National Front leader Marine Le Pen will face each other in a May 7 runoff. Out of an 11-candidate field, Macron was seen with 23.7% of the vote, with Le Pen at 21.7%, France 24 reported, citing early results from its polling partner Ipsos. Other early polls showed similar results with Macron and the anti-euro Le Pen set to advance. Polls in first round voting closed at 8 p.m. Paris time, or 2 p.m. Eastern. A clearer picture is expected in coming hours as votes are counted. Polls have indicated that Macron would be likely to defeat Le Pen in a second round contest. Voter turnout was seen at 69.4%, one point below turnout in the first round of the last presidential election in 2012, France 24 reported, citing French interior ministry figures.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Sun, 23 Apr 2017 18:12:23 GMT
West Virginia Online PowerBroker
IMF officials drop anti-protectionist pledgeExternal Link

A statement from the International Monetary Fund's steering committee on Saturday dropped a past pledge to resist protectionism in trade, according to media reports. The IMF body failed to repeat its prior promise to oppose all forms of protectionism, a Reuters report said. In March, the G-20 revealed new language on trade, with the biggest economies also dropping their pledge to avoid protectionism, marking a major symbolic victory for the Trump administration.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Sat, 22 Apr 2017 17:27:29 GMT
West Virginia Online PowerBroker
Sears forecasts $1.25 billion in cost savings in 2017, appoints new CFOExternal Link

Sears Holdings Corp. shares rose slightly in the extended session Friday after the retailer said it increased its cost-saving target and appointed a new financial chief. Sears shares advanced 0.8% to $13.50 after hours. The company said it expects to reduce costs by $1.25 billion for the year, up from a previously announced $1 billion. Sears said it has already delivered on $700 million in cost savings on the year. Also, Sears appointed Rob Riecker as chief financial officer, effective immediately, succeeding Jason Hollar, who left the company for another position. Sears said it has completed plans to close 108 Kmart and 42 Sears stores that had been underperforming.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 21 Apr 2017 21:14:08 GMT
West Virginia Online PowerBroker
Fitch cuts Italy's credit rating to BBB from BBB+External Link

Fitch Ratings on Friday downgraded Italy's long-term foreign- and local-currency credit ratings to BBB from BBB+, citing the country's tepid economic growth, increasing political risks and "persistent track record of fiscal slippage.". The ratings agency said the country's failure to bring down its "very high" level of government debt has left it prone to unexpected economic shocks that could instigate a default. Weak economic fundamentals have been exacerbated by the fractious political landscape; late last year, Italians voted down a constitutional referendum that would've streamlined the legislative process in the country. The ratings agency projected that the country's debt load will swell to 132.7% of gross domestic product in 2017, before declining to 129.3% in 2020. Italy's economy has been plagued by persistently low growth and a banking system that harbors one of the highest percentages of non-performing loans in Europe. The European Commission in late 2016 waived its rules against government bailouts to allow the Italian government to intervene and prevent Banca Monte dei Paschi di Siena, the world's oldest bank, from sliding into insolvency. The yield on the 10-year Italian bond rose 0.9 basis point to 2.275% on Friday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 21 Apr 2017 21:11:19 GMT
West Virginia Online PowerBroker
United CEO Munoz no longer heir apparent to airline's chairman positionExternal Link

Oscar Munoz, the chief executive of United Continental Holdings Inc. , will no longer be the default choice for the airline's next chairman, according to a Securities and Exchange Commission filing late Friday. Munoz initiated changes to his employment agreement that would have him as the company's chairman, "leaving future determinations related to the Chairman position to the discretion of the Board," United said. The move follows Munoz's handling of a public-relations crisis earlier in the month when a passenger was forcibly removed from an overbooked flight. United shares declined 0.1% to $69.47 after hours.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 21 Apr 2017 20:49:29 GMT
West Virginia Online PowerBroker